Retail Shoppers Most Interested in Value, but Age Differences Exist

March 12, 2012

This article is included in these additional categories:

Analytics, Automated & MarTech | Boomers & Older | Data-driven | Retail & E-Commerce | Youth & Gen X

brodeur-ideal-shopping-experience-march2012.jpgConsumers’ ideal shopping experience revolves around obtaining the best value for their time and money, according to a March 2012 report from Brodeur Partners. Using a maximum difference scaling methodology to determine which factors are most and least relevant to shoppers when thinking about their favorite place to shop, value came out on top with a retail relevance score of 19.59, roughly 50% higher than the next 2 factors, missing the experience if it were not around (13.11), and dependability (13.08).

Beyond the top 3 factors, the characteristic that scored next highest, and far above the rest, was that shoppers viewed the store as being for people like themselves (9.81).

Youth More Interested in Shareability

When breaking down the data by age groups, the study reveals some interesting generational differences. For example, 18-34-year-olds voted the shareability of an experience as being more relevant than did those aged over 55 (5.74 vs. 4.11). Similarly, they placed more importance on being comfortable with people knowing they were associated with the experience (5.96 vs. 3.73). The social aspect of these younger consumers’ values comes

Youth also valued a shopping experience’s appeal to their senses and curiosity more highly than their elderly counterparts. For example, finding an experience interesting garnered a relevance score of 7.66 among the 18-34 set, compared to 5.96 for those over 55. An experience that makes them smile was also more important (6.60 vs. 3.77), as was one that appeals to their senses (6.26 vs. 3.89).

Mature Shoppers More Interested in Practicality

By contrast, consumers over 55 ascribed more importance than the 18-34 demographic to factors such as value for time and money (22.70 vs. 17.16) and dependability (15.70 vs. 11.74). They also agreed more with the statement that they would miss the experience the most if it were not around (14.60 vs. 11.74) and that it was for people like them (10.50 vs. 9.58).

About the Data: The Brodeur Partners results are based on a survey of 2,008 shoppers between the ages of 18 and 65, conducted from November 13-20, 2011. The maximum difference scaling methodology requited respondents to continually “vote” for the statement that most and least applied to their favorite place to shop. Each was tested at least 4 times against a different combination of statements. The shoppers’ votes were then used to create a value score for each.

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